- €24 million net cash position as of year-end 2018
PARIS, France, – 11 February 2019, at 7:30am CET – Lysogene (FR0013233475 – LYS), a leading clinical- stage biopharmaceutical company specializing in gene therapy technology applied to central nervous system (CNS), today reports its cash position and revenues at December 31, 2018.
As of December 31, 2018, cash and cash equivalents amounted to €25 million1, taking into account the payments made by Sarepta Therapeutics, Inc to Lysogene in the context of their worldwide license and collaboration agreement entered into in October 2018.
The net cash position amounted to €24 million1 as of December 31, 2018.
The license and collaboration agreement with Sarepta Therapeutics, Inc also generated in the fourth quarter of 2018 revenues of €3.6 million1, in application of standard IFRS 15 “Revenues from contracts with customers” and recognized revenues under the percentage-of-completion method.
Lysogene is a gene therapy company focused on the treatment of orphan diseases of the central nervous system (CNS). The company has built a unique capability to enable a safe and effective delivery of gene therapies to the CNS to treat lysosomal diseases and other genetic disorders of the CNS. A pivotal clinical trial in MPS IIIA in partnership with Sarepta Therapeutics, Inc. is ongoing and a phase 1-2 clinical trial in GM1 Gangliosidosis is in preparation. In accordance with the agreements signed between Lysogene and Sarepta Therapeutics, Inc., Sarepta Therapeutics, Inc. will hold exclusive commercial rights to LYS-SAF302 in the United States and markets outside Europe; and Lysogene will maintain commercial exclusivity of LYS-SAF302 in Europe. Lysogene is also collaborating with an academic partner to define the strategy of development for the treatment of Fragile X syndrome, a genetic disease related to autism. www.lysogene.com.
Julie Coulot / Emmanuel Huynh NewCap
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Unaudited and not subject to approval by the board of directors